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Kansas City Southern today reported record fourth-quarter 2017 revenue of $660 million, up 10 percent from the same period a year ago due to a 5 percent increase in volume.KCS reported Q4 2017 operating income rose 13 percent to $238 million compared with Q4 2016, KCS officials said in a press release.Net income for the quarter was $552 million, or $5.33 per diluted share, compared with $130 million, or $1.21 per diluted share, in Q4 2016. The diluted EPS includes benefits from changes in the U.S. tax law. Still, adjusted diluted EPS was an all-time record of $1.38, a 23 percent increase over Q4 2016.The Class I's operating expenses rose 9 percent to $423 million compared with a year ago. KCS posted an operating ratio of 64 percent for the quarter, a 0.8 point improvement over Q4 2016.The company also posted record revenue, operating income, operating ratio and adjusted diluted EPS for full-year 2017. Year over year, revenue climbed 11 percent to $2.6 billion due to volume growth. Operating income grew 13 percent to $922 million compared with the previous year. KCS' operating ratio for the year was 64.3 percent, a 0.6 point improvement from 2016's operating ratio.Net income for the year was $964 million or $9.16 per diluted share, compared with $480 million, or $4.43 per diluted share, in 2016. Excluding the impacts of foreign exchange fluctuations and U.S. tax law changes, adjusted diluted earnings per share for 2017 was $5.25 compared to $4.48 in 2016."Kansas City Southern achieved record financial results with revenue growth in all six commodity groups in 2017," said President and Chief Executive Officer Patrick Ottensmeyer. "Despite the impact of Hurricane Harvey in the third quarter, strong topline performance, led by our energy, automotive and chemical and petroleum business units, contributed to record full-year adjusted diluted earnings per share of $5.25, an increase of 17 percent over 2016."Looking ahead to 2018, KCS is positioned to maintain growth driven by "unique franchise opportunities," a strengthening economy and a focus on controlling costs, Ottensmeyer said."We expect to continue leveraging the investments made in our network to grow our business, ensure good customer service and maximize shareholder returns," he said.
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